Invoice Management

Invoice Management

Despite high labor costs, only 50% of leading regional businesses use an electronic collection platform to manage their revenues. Of these, only 14.5% of their revenues are managed electronically*. It is observed that the lack of automation leads to inefficiencies and delay in payments. (* The 2014 Visa Cash Flow Visibility Index research was done in August-September with CFOs / Treasurers of 811 leading corporations in ten countries to better understand challenges that organizations may face with managing cash flow and ensuring visibility and predictability. The research was done by East & Partners, an independent specialist business banking market research and analysis firm. Regional data cover findings of Australia, Hong Kong, India, Japan, Malaysia and Singapore.)

Invoice management capabilities help businesses capture information from paper and electronic invoices while automating invoice processing and data entry. It includes best practice workflows for discrepancy processing, resolution and accounting details and real-time integration with Enterprise Resource Planning (ERP), other finance processing systems and supplier portals.

It ensures accurate invoicing for suppliers based on client agreements and purchase orders, driving shorter Days Sales Outstanding (DSO)2 times. It also assists suppliers to expand their businesses as the system opens up eCommerce opportunities with cross border customers.

How does Invoice Management work

The capabilities automatically capture details such as dates, product and service descriptions, and amounts to enable a three-way match of POs, invoices and payment instructions, eliminating time-consuming manual intervention. Data is delivered to you in flexible formats that enable you to seamlessly integrate information into your existing ERP systems. Data analysis is timely and accurate, enabling greater visibility into expenditures, collections and cash flow.

Reinvest Quickly to Grow Your Business

Automating invoice management helps to reduce DSO significantly. The chance of human error is eliminated, hence conflicts will be minimal. You get full visibility of from where and when your Invoice Management cash is arriving. This visibility leads to cash flow predictability that helps you make critical business decisions. When your money flows in on time, it can be quickly reinvested to grow your business.